Illovo Hikes Sugar Prices
One of the country's sugar manufacturers Illovo has adjusted upwards the price of sugar effective today, 30th May, barely days after the Reserve Bank of Malawi announced a 25 percent devaluation of the Malawi kwacha.
Illovo Sugar Malawi managing Director Lekani Katandula has told us that the adjustment follows the recent hike in fertilizer prices and the devaluation of the local currency among other factors.
Meanwhile, The Center for Social Concern programmes officer Benard Mphepo has described the development as worrisome and urged the authorities to implement Initiatives that will cushion the pressure on consumers.
A kilogram of brown sugar which was selling at 900 kwacha on retail will now be selling at 1100 among other adjustments.